Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Due diligence definition

What does Due diligence mean? In legal practice, due diligence describes (1) compliance steps to prevent offences; and (2) pre‑transaction investigation in corporate and finance work. As a statutory defence to many strict‑liability and regulatory offences (for example under the UK Consumer Protection from Unfair Trading Regulations 2008 and the Food Safety Act 1990, and under Ireland’s Consumer Protection Act 2007 and food legislation), it requires the defendant to show that all reasonable precautions were taken and all due diligence was exercised to avoid the commission of the offence. Depending on the statute, this may place a legal or evidential burden on the defendant,...

Senior management’s role in preventing the facilitation of tax evasion: compliance with the Criminal Finances Act 2017

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Practice notes

The Criminal Finances Act 2017 (CFA 2017)

From 30 September 2017, a new corporate offence—failing to prevent the facilitation of tax evasion—took effect under CFA 2017. Government guidance outlines what it expects of compliance frameworks. This Practice Note reflects the final statute and accompanying guidance. That guidance should be approached and applied proportionately, according to risk. This means considering your organisation’s size, nature and complexity. Proportionality requires measures that are reasonable and appropriate to those circumstances. Assessments should focus on the particular risks your business faces and the resources available. Implementation will differ: a small enterprise in a low‑risk field may reasonably do far less than a major multinational operating in a high‑risk area. Consequently, identical controls will not suit every organisation or sector, and practices must be tailored. The Law Society has likewise issued CFA 2017 guidance for law firms, approved by the chancellor on 21 November 2018. Per the Law Society, the chancellor regards its guidance as aligned with the Government guidance on the corporate offences of failing to prevent the criminal facilitation of tax evasion. An organisation’s top-level management should be committed to stopping any person acting as its associated person from engaging in criminal facilitation of...

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Web page updated on 21/05/2026

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